Cisco Systems, Inc. $CSCO Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its stake in Cisco Systems by 1.8%, selling 7,276 shares, leaving it with 392,973 shares valued at approximately $24.25 million.
• Cisco reported $0.99 EPS for the last quarter, exceeding estimates, with revenues of $14.67 billion, marking a year-over-year increase of 7.6%.
• The company announced a quarterly dividend of $0.41 per share, with an annualized yield of 2.4% and a payout ratio of 62.60%.

Synovus Financial Corp trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 392,973 shares of the network equipment provider's stock after selling 7,276 shares during the quarter. Synovus Financial Corp's holdings in Cisco Systems were worth $24,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Cisco Systems during the first quarter worth approximately $31,000. Finally, Fairway Wealth LLC raised its position in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 400 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research analyst reports. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $87.00 price objective on shares of Cisco Systems in a research note on Thursday, August 14th. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Evercore ISI raised their price target on Cisco Systems from $72.00 to $74.00 and gave the stock an "in-line" rating in a research note on Thursday, August 14th. Finally, Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average target price of $74.53.

Cisco Systems Price Performance

CSCO stock opened at $67.32 on Friday. The company has a market capitalization of $266.59 billion, a PE ratio of 25.69, a P/E/G ratio of 2.87 and a beta of 0.91. The stock's 50 day moving average is $68.20 and its two-hundred day moving average is $63.56. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a 52-week low of $47.85 and a 52-week high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%.The business's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. Cisco Systems has set its Q1 2026 guidance at 0.970-0.990 EPS. FY 2026 guidance at 4.000-4.060 EPS. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a $0.41 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is presently 62.60%.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 9,061 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.60, for a total transaction of $603,462.60. Following the completion of the transaction, the insider directly owned 237,405 shares in the company, valued at $15,811,173. This represents a 3.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,783 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.60, for a total value of $651,547.80. Following the transaction, the executive vice president owned 161,662 shares of the company's stock, valued at approximately $10,766,689.20. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,118 shares of company stock worth $8,847,167. 0.01% of the stock is currently owned by insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.